General Studies · Statement and Conclusion

Given below is a statement followed by two conclusions, I and II. Read the information carefully and select the correct option. Statement: Country B has been importing 80% of its crude oil and petroleum from country Y for a few decades now to fulfill its fuel needs. However, owing to the current financial crisis in country Y, it exports crude oil and petroleum to other countries at 30% higher prices now. Conclusions: I. The car resale industry in country B will be on the verge of a total shutdown in the coming months. II. Country B will increase fuel tax by 30%.